My father has given his old ancestral property to a builder to develop a small 4 storied apartment on 50-50 partnership. He received 2 flats and sold one , while staying at the other one. He spent some money on the newer apartment (interior + transfer of property from siblings using a gift deed).
How can he save capital gain tax for the sold property?
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Ancestral property sell tax
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Purchase another house property.
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